Valley Company's adjustec trial balance on August 31

Valley Company's adjustec trial balance on August 31. 2017. its fiscal year-end, follows. 
Merchandise inventory Other (noninveritor, assets Total liabilities Common stock .Retained earnings Dividends 
Debit Credit $ 44.500 178.000 5 51.398 
8.000 
13%73 
Sales 304,380 Sales discounts 4,657 Sales returns and allowances 20,089 Cost of goods sold 117,115 Sales salaries expense 41,700 Rent expenses-Selling space 14,306 ligr.gupplies expense 3.653 Office :37agrirsP:xrMise 25,872 38,048 Rent expense—Office Sp., 3,653 Office supplies expense 1.218 sue_`— ---------- --------- 5 500 811 T500.81 k. .:,.,;On August 31, 2016. merchandise inventory vies 535,912. St inplemertniv records of inarchar,isil , activities ,r the year ender, August 3, 2017, reveal the fo totals Invoice cost of iancOse p...rcri,scs Purchases discounts received '1 '2', ') 7:47 , Rip:times returns and allowances 6,280 of transportat in -.....,-, 3.91. 

.Compute the company's net sales for the year. 2. Compute the company's total cost of merchandise purchased for the yea, 3. Prepare a multiple-step income statement that includes seen.. categories for net sates, cosy of goons sold se ling expenses. and genet. are ac,nistrative expenses_ 4. Prepare a single-step income statement that includes these expense categories. cost ofg oods sold, sere: expenses, and general and acimeustrative expenses. .Ott,  •